CoinSmart - CEO, Justin Hartzman
CEO, Justin Hartzman
Source: LinkedIn
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  • CoinSmart Financial (SMRT) has released its interim consolidated financial statements for the three months ended March 31, 2022
  • Financial highlights include gross revenue reached $4.2M an increase of 15 per cent YoY
  • Registered users reached over 216,000, growing 191 per cent YoY
  • OTC trading volume reached $113M, an 89 per cent increase YoY
  • CoinSmart is a Canada-based crypto asset trading platform
  • CoinSmart Financial Inc. (SMRT) opened trading at C$0.36 per share

CoinSmart Financial (SMRT) has released its interim consolidated financial statements for the three months ended March 31, 2022.

Q1 2022 highlights:

  • Q1 2022 gross revenue reached $4.2M, an increase of 15 per cent YoY
  • OTC trading volume reached $113M, an 89 per cent increase YoY
  • Assets under management of $74.8M, growing 99.5 per cent YoY
  • Company treasury reached approximately $19M
  • Zero debt

2022 corporate highlights:

  • Acquired over 33,700 new registered users
  • Outperformed overall crypto market by ~9 per cent from Q4 2021
  • Expanded retail and OTC trading to additional European Countries
  • Launched an API for the SmartPay crypto platform and an SDK for developers
  • Launched new iOS and Android mobile apps

CoinSmart CEO Justin Hartzman commented on the results.

“Q1 2022 saw continued year over year growth during a quarter that experienced high volatility. I am extremely proud that our team was able to execute and continue growing our user base, ship new products and help the crypto curious enter the market. The decision to not only focus on the retail platform growth but to diversify over a number of business lines has helped our continued YoY growth against the headwinds of a poor macroeconomic environment. Q1 was highlighted by growth in Over the Counter Trading as we acquired new HNWI and institutional clients. We’re looking forward to further expansion in crypto payment products and geographies as we move into Q2 2022.”

CoinSmart is a leading Canadian-headquartered crypto asset trading platform dedicated to providing customers with an intuitive way for buying and selling digital assets such as Bitcoin and Ethereum.

CoinSmart Financial Inc. (SMRT) opened trading at C$0.36 per share.

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